bankofjapan
The Japanese yen continued to weaken against a basket of currencies on Monday, touching its nearly four-decade low against the American dollar after data showed that Japan’s gross domestic product (GDP) contracted by more than expected during the opening quarter. This development has seemingly dampened hopes of a potential rate hike by the Bank of Japan. Dollar, euro, and pound gain significant groundThe dollar gained 0.31% against the Japanese yen, selling at 161.3765 at 8:40 am ET, its strongest level since December 1986. At the same time, the euro climbed 0.58% compared to the Japanese curr...
Invezz
Japan’s factory activity expanded for the second consecutive month in June, though the pace of growth has slowed due to weakening orders and increasing cost pressures. This is according to the latest au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) released on Friday. Manufacturing PMI and output The manufacturing PMI stood at 50.1 in June, slightly down from 50.4 in May but still above the crucial 50.0 threshold that separates growth from contraction. This indicates a marginal expansion in manufacturing activity. The key subindex of output, however, showed some optimis...
Invezz
It’s been a difficult past month for the Japanese Yen, which has seen almost continuous weakening against the US dollar following the latter’s victorious bumper crop of Nonfarm Payrolls recently. As of this morning (Wednesday 12th), the USD/JPY has risen for four days in a row, nearing the $157.25 price point at the time of this article going to press. Today, so far, the USD/JPY has continued to strengthen during the Asian trading session, in anticipation of United States inflation data figures, as well as the Federal Open Market Committee (FOMC) decision on US interest rates, both coming out ...
Invezz
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